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Sunday June 29, 2014 8:33 AM

Lots of the questions I get from readers involve their friends, families and finances.

Here are some topics that came up during my online chats from folks seeking advice about money
situations close to home:

Q: My daughter has found herself in a situation where she has to move. Her credit is bad, and
she is having difficulty getting approved for an apartment.

Should I co-sign? Moving back home is not an option.

Singletary: Do not co-sign.

I know you want to help. However, unless you are truly prepared to make her monthly rent
payments, don’t do it. If her credit is bad, this is an indication that some financial issues are
there already. Maybe it’s because she was irresponsible, maybe not.

But in either case, don’t link your finances with hers. Instead, help her explore various living
options. Perhaps she can move in with a friend temporarily.

Q: Our 28-year-old daughter is entering a master’s program this fall, and we anticipate she will
require education loans. My wife and I are in our early 60s and expect to retire in three to five
years.

Should we co-sign an educational loan for our daughter if we are asked?

Singletary: Do not co-sign if you’re asked, and certainly don’t offer.

Co-signing means you are borrowing, too. You are not a backup borrower. And I would definitely
not recommend it because you are so close to retiring — unless you have the money to pay the
loans.

And if you have the money to pay the loans, then just give it to her. (I don’t believe in
loaning money. It can get complicated and/or ugly.) It’s not too late to encourage your daughter to
work and save up to pay the cost of the program.

Q: Do you tell or have you told anyone in your family about your net worth? Until my spouse let
it slip to a sibling (I am a very private person about money), only our broker knew how healthy our
assets were. Am I being silly to like to keep the information private?

Singletary: You are not being silly. And absolutely no, I do not tell folks what my net worth
is, certainly not family. It’s none of their business.

Besides, in some families the more they know, the more they may press you for money.

Q: I have a friend who regularly gives my husband, me and our daughter very expensive gifts
(Mother’s Day, birthdays, Christmas, baby shower, etc.). We cannot afford to come even close to her
generosity in return, though I wish we could.

Should I say something about our budget and inability to do so, or just continue to thank her
profusely?

Singletary: Give sincere and heartfelt thanks, and say nothing more.

You don’t have to feel guilty. The friend gives what he or she can. You give what you can
afford.